U.S.-Listed Chinese Stocks Drop, on Pace for Fresh 2023 Lows -- WSJ

Dow Jones2023-06-01

By David Marino-Nachison

The droop in Chinese stocks is spilling into U.S. trading, with an index of U.S.-listed Chinese companies touching a fresh 2023 low.

The Nasdaq Golden Dragon index was recently off more than 2%, according to FactSet. It's down about 12% in 2023, on pace for its lowest close and intraday level of the year. Chinese stocks, meanwhile, are in a bear market .

Among the Chinese ADRs on the move today: Electric-car maker NIO was down more than 2%, while e-commerce company JD.com was off about 0.6%. Both stocks were recently around 52-week lows.

The move comes as gauges of Chinese manufacturing and services sector activity fell in May] amid tensions with the U.S.

Read more: Here's the latest Heard on the Street take on the state of investor interest in China.

NOTE: In-line links reference additional content of interest chosen by the WSJ news team.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 31, 2023 12:45 ET (16:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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